MIAMI-With news that Rialto Capital Advisors, Lennar Corp.’sdistressed assets subsidiary, closed a real estate investment fundworth $300 million in equity commitments at the end of November,distressed asset real estate practices are expecting the next waveof activity.
Continental Real Estate Companies (CREC) is one of thosecompanies. CREC has more than 25 receiverships in place and is alsomanaging workouts. Warren Weiser, chairman and co-founder of CREC,expects the distressed asset market to be one of the biggestcommercial real estate stories in 2011, with Lennar and othersworking to clean up properties.
GlobeSt.com sat down with Weiser to discuss the evolving role ofreceivers, the key challenges in today’s market, and what to expectin 2011.
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